Italy Inflation August 2016


Italy: Annual drop in consumer prices stable in August

According to provisional data released by the Italian Statistical Institute (ISTAT), consumer prices grew 0.2% over the previous month in August, mirroring July’s reading. The figure mainly reflected an increase in prices for transport and for recreation and culture. Consumer prices dropped 0.1% in August on an annual basis, which matched July’s reading.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, grew 0.2% in August on a monthly basis, which was down from July’s 0.4% growth. Core inflation was 0.4% in August (July: 0.6%), marking the lowest reading since April 2015. Finally, harmonized consumer prices stayed flat over the same month last year, which was up from July’s 0.2% drop and represented a seven-month high.

FocusEconomics Consensus Forecast panelists expect inflation to stay flat in 2016, which is unchanged from last month’s projection. For 2017, panelists expect inflation to average 1.0%.

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Italy Inflation Chart

Italy Inflation August 2016

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).

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